Ethereum ($ETH ) has been trading in a tight range for several weeks, forming a compression pattern that often precedes major breakouts. Despite increased global volatility—fueled by Middle East tensions—ETH has shown resilience, holding above key demand zones between $2,500 and $2,600. This ongoing consolidation suggests bulls may be quietly building momentum.
Top crypto analyst Ted Pillows noted that Ethereum’s current setup closely resembles Bitcoin’s behavior during the 2017–2021 cycle, where $BTC consolidated within a narrow range before launching into a parabolic rally. If ETH follows that same path, a breakout above $2,800 could be the first step toward a much larger move.
As long as ETH maintains support and absorbs both upward and downward price wicks, the bullish structure remains intact. A breakout from the current range could not only send Ethereum higher but also rejuvenate the broader altcoin market.
Ethereum Builds Momentum Amid Uncertainty
ETH continues to consolidate just above $2,600, holding strong despite macroeconomic concerns and geopolitical instability. After climbing nearly 80% since April lows, Ethereum seems poised for a decisive move. However, escalating tensions between Iran and Israel, along with uncertainty around potential U.S. involvement, have kept broader markets cautious, contributing to sideways movement.
Still, Ethereum’s price action remains constructive. Sustained support near demand zones suggests active accumulation and low selling pressure. This type of quiet consolidation often precedes explosive price moves. Some traders warn of a pullback below $2,400 if sentiment weakens, but others see opportunity.
Analysts like Ted Pillows remain bullish, arguing that $ETH is mirroring Bitcoin’s 2017–2021 playbook. If Ethereum breaks above the $4,000 mark, it could kickstart a strong altcoin rally and shift overall crypto sentiment decisively bullish.
